Bill
SD 1534
Overview: SD 1534, "An Act to repeal the sales tax exemption for aircraft", was introduced on February 27, 2025, and has been passed by the House.Purpose and Intent: The bill aims
Overview: SD 1534, "An Act to repeal the sales tax exemption for aircraft", was introduced on February 27, 2025, and has been passed by the House.
Purpose and Intent: The bill aims to eliminate the existing sales tax exemption for the purchase of aircraft within the state. The primary goal is to generate additional revenue for the state's general fund by subjecting aircraft purchases to the standard sales tax rate.
Key Provisions:
- Repeal the current sales tax exemption for aircraft purchases
- Apply the state's standard sales tax rate (currently 6%) to all aircraft purchases
- Ensure the new tax applies to both new and used aircraft transactions
Affected Parties and Impacts: The bill would primarily impact individuals and businesses purchasing aircraft within the state, as they would now be required to pay the standard sales tax on these transactions. The additional revenue generated could be used to fund various state programs and initiatives.
Procedural and Timeline Considerations: The bill has been passed by the House and is currently awaiting further action in the legislative process.
Compiled from official sources — confirm details with the bill’s official record.
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